LAHORE, Pakistan: The Federal Minister for Planning and Development Ahsan Iqbal has said that boosting exports is the only way to take the economy forward in the right direction.
While addressing a news conference in Lahore on Saturday, the minister said that despite having a limited tenure, the Pakistan Muslim League-Nawaz (PML-N)-led federal government is doing its best to improve the Country’s economy.
Ahsan Iqbal said that the present government took the economy out of crisis which will further improve in the coming six to eight months.
The minister also stressed the need to double the tax to GDP ratio to provide resources for the Country’s progress. He also said that we will have to boost our production capabilities.
The planning and development minister said that political stability, continuity in economic policies and social solidarity are needed for a Country’s progress.
Meanwhile, in a Twitter statement, the Finance Minister Miftah Ismail said that the government has issued an SRO to reverse the ban on imports of luxury items to meet international obligations.
Miftah Ismail said that the goods struck at the ports will gradually be released with penalty surcharge of up to one hundred percent of assessed value.
The finance minister said that Tariff Policy Board will soon come up with new Regulatory Duty rates that will ensure that our limited foreign exchange is spent on essential items and not on these items that we have unbanned. He said that we must live within our means.